Lecithin Oleoresin Market: An Overview
Lecithin is a substance which is composed of phospholipids and mainly obtained from egg yolk and oilseeds such as soy, sunflower, and rapeseed. Oleoresin is a substance which is a mixture of resin & essential oils which are extracted from paprika, black pepper, turmeric, capsicum, vanilla, etc. The global lecithin oleoresin market is predicted to expand at a notable CAGR in the upcoming years.
Key driving factors of the market include the advanced characteristics, abundant availability of raw materials, diverse applications and research & developments in the product portfolio by key competitors of the market. A steep rise in the popularity of the ethnic tastes in food items across a number of regions, increased demand for higher shelf life products and population growth have also affected the lecithin oleoresin market globally.
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The products have a wide array of applications and can be used as an ingredient in a vast span of different industries like pharmaceuticals industry, food & beverages industry, etc. which in turn proves to be beneficial for the global lecithin oleoresin market.
Covid – 19 Adverse Effects on the Global Lecithin Oleoresin Market
The pandemic of covid – 19 caused by the SARS – CoV – 2 corona virus has had deadly consequences across the globe. It has affected a large number of businesses in a number of sectors. This includes the lecithin oleoresin market which has also been adversely impacted by the pandemic.
Government initiated precautionary measures like lockdowns across several regions has put a halt on the supply and demand of the product on a worldwide scale which is one of the crucial reasons for the downfall of the market. This has devastating effects as a reduced trade of the product prevents expansion of the lecithin oleoresin market leading to a surge in product price.
Slight normalization of the market is expected by end of FY 2020 with the government reinstatement of trading policies and supply chain of the products across of the globe.
Segmentation Analysis Of Lecithin Oleoresin Market:
The global lecithin oleoresin market is bifurcated into four major segments which are classified as: product type, product source, applications and geography.
On The Basis Of Product Type, Lecithin Oleoresin Market Has Been Segmented As Follows:
Chemically Modified Lecithin
On The Basis Of Source Of The Product, Lecithin Oleoresin Market Has Been Segmented As Follows:
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On The Basis Of Applications Of The Product, Lecithin Oleoresin Market Has Been Segmented As Follows:
Food & Beverages
On The Basis Of Geographic Regions, Lecithin Oleoresin Market Is Segmented As
South Asia & Oceania
Middle East & Africa
Lecithin Oleoresin Market: Regional outlook
Based on geographical outlook, the lecithin oleoresin market has expanded to several regions of the globe namely North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa. Among these regions, North America constitutes the largest share in the lecithin oleoresin market dominated by a significant margin.
Factors responsible for this include the rise in demand of the product and increase in the awareness of ethnic taste in food.
Other regions like South Asia & Oceania have also faced predominant developments in the lecithin oleoresin market owing to technological advancements in manufacture, widened popularity of cosmetic culture and global need for lecithin and oleoresin in a number of different industries. Such factors have boosted the market growth in these regions.
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Lecithin Oleoresin Market: Key players
The global oleoresin market is fairly fragmented in nature with a few key players dominating the market across the globe. The top leaders are devoted to expansion of their product portfolio in the oleoresin market with a number of strategies such as brand mergers and acquisitions. Leading players in the oleoresin market are Kancor Ingredients Ltd., Synthite Industries Ltd., Kalsec Europe Ltd., Universal Oleoresins and Ozone Naturals.
Coming to the global lecithin market which is classified as slightly consolidated in nature. The leading players in the lecithin market are Archer Daniels Midland, Cargill, DuPont Nutrition and Health, Lipoid GmbH and American Lecithin Company whereas other competitors are Bunge Ltd., Sternchemie GmbH & Co., NOW Foods, Thew Arnott & Co., Ltd. and GIIAVA. Rise in competition among the players has also enabled a gradual increase in the market value in terms of revenues.
Focus on expansion of products by competitors in all different segments of the market has also played a pivotal role in the growth of the market.
The research report presents a comprehensive assessment of the lecithin oleoresin market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
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